Methionine Market Share, Profile, Outlook and Segmentation Till 2030
Methionine Market Overview:
Methionine Market Size was valued at USD 03 Billion in 2022. The Methionine market industry is projected to grow from USD 4.1 Billion in 2023 to USD 6.9 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.00% during the forecast period (2023 - 2030).
Methionine is one of the nine essential amino acids important for growth and tissue repair in humans and avian species. It is found in eggs, cheese, asparagus, Brazil nuts, meat, poultry, etc. It helps in increasing the copper level in the body and in the growth of new blood vessels.
The global Methionine Market Share is segmented on the basis of the type as DL-methionine, methionine hydroxy analogue (MHA), L-methionine. Among these, DL-methionine is the largest segment due to its wide range of applications in food & beverage, pharmaceuticals, personal care, agriculture, and others. DL-methionine is an amino acid supplement used as a nutritional supplement and food additive. The increasing health concerns are expected to drive the market growth due to its use as a protector for liver cirrhosis, toxic hepatitis, and pneumonia. Furthermore, L-methionine is a powerful antioxidant and helps to fight free radicals in the body and slows down the aging process. The other factors driving the market are the benefits of L-methionine in reducing the risk of colorectal cancer, reduction of tremors in Parkinson’s patients, strengthening the bone structure, and aids weight loss. Moreover, the emerging use of methionine hydroxy analogue (MHA) in aquaculture is likely to propel the market growth during the assessment period.
Methionine Market Segmentation
The global methionine market is segmented on the basis of the type, end-use industry, and region.
On the basis of the type, the global methionine market is segmented into DL-methionine, methionine hydroxy analogue (MHA), and L-methionine.
On the basis of the end-user industry, the global methionine market is segmented into animal feed, food & beverage, pharmaceuticals, and others.
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Regional Analysis
The global methionine market is segmented into five regions of Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The Asia Pacific is the fastest emerging region on account of the high cattle production in this region.
North American and European market is likely to grow significantly owing to the increasing demand for food & beverage and pharmaceutical industries in the region.
Latin America and the Middle East & Africa are anticipated to witness considerable growth due to the meat production and exportation in the region.
Competitive Analysis
Some of the manufacturers operating in the methionine sources are Sumitomo Chemical Co., Ltd (Japan), Evonik Industries AG (Germany), Bluestar Adisseo Co., Ltd. (China), Novus International (U.S.), Tokyo Chemical Industry Co., Ltd. (Japan), Sunrise Nutrachem Group (China), Prinova Group LLC (U.S.), AJINOMOTO CO., INC (Japan), Amino GmbH (Germany), Chongqing Unisplendour Chemical Co. Ltd. (China), Sichuan Hebang Group Industry Co., Ltd (China), Iris Biotech GmbH (Germany), Phibro Animal Health Corporation (U.S.), CJ Cheiljedang Center (South Korea), and Kingchem Life Science LLC (U.S.) among others.
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